Separation Payments Sample Clauses

Separation Payments. In respect of each month during the 12-month period measured from the day of the Executive’s Date of Separation from Service (the “Severance Period”), (x) an amount equal to one-twelfth of the Base Salary as in effect for the year in which the Date of Separation from Service occurs shall be paid in equal installments in accordance with the Corporation’s standard payroll practices (reduced by any amounts received by and/or payable to Executive in connection with benefits paid or payable as a result of Disability, if applicable) (the “Salary Continuation Payments”); and (y) an amount equal to one-twelfth of the Target Bonus as in effect for the year in which the Date of Separation from Service occurs shall be paid once a month (together with the Salary Continuation Payments, the “Separation Payments”);

Separation Payments. Subject to Employee’s consent to and fulfillment of Employee’s obligations in this Agreement and, if applicable pursuant to the Section 14(b) or (c) of the Employment Agreement, Employee’s post-termination obligations in Sections 8 and 9 of the Employment Agreement, and provided that Employee does not revoke this Agreement pursuant to Section 12 hereof, Matador shall pay Employee the amount of $[AMOUNT], minus normal payroll withholdings and taxes (“Separation Payment”), payable as provided in the Employment Agreement. The Separation Payment will not be treated as compensation under Matador’s 401(k) Plan or any other retirement plan.

Separation Payments. In consideration for your execution, return and non-revocation of this Release on or after the date your employment is terminated (the “Separation Date”), the Company will provide you with the Separation Payments described in Section 3(d) of the Employment Agreement:

Separation Payments. Except to the extent provided in Section 5.09 and Section 5.18, Executive shall be entitled to the benefits set forth below (the “Separation Benefits”) upon a termination of employment: (a) Upon any termination of employment including by reason of death or Disability, Executive’s voluntary termination of employment (with or without Good Reason) or upon involuntary termination of Executive’s employment by the Company, Executive shall be entitled to: (i) Executive’s earned but unpaid Base Salary and other vested but unpaid cash entitlements (including any earned but unpaid cash Annual Bonus for the performance year prior to the year in which Executive terminates employment) for the period through and including the date of termination of Executive’s employment (other than entitlements referenced in Section 3.02(b) below) (the “Accrued Compensation”); and (ii) Executive’s other vested benefits earned by Executive for the period through and including the date of Executive’s termination of employment, which shall be paid in accordance with the terms of the applicable plans, programs or arrangements (the “Accrued Benefits”). (b) Upon a Qualifying Event, the Company shall pay Executive in addition to the amounts set forth in Section 3.02(a) above: (i) Cash compensation through the second anniversary of such Qualifying Event (the “Payment Period”) in equal installments during the Payment Period in accordance with the applicable Company payroll, in an aggregate amount equal to two times the sum of (y) the highest Base Salary in effect during the six-month period immediately prior to the time of such termination of employment and (z) the Executive’s target Annual Bonus opportunity for the year of termination of employment (such payment, the “Cash Severance Payment”), on the condition that Executive has delivered to the Company a release substantially in the form as attached hereto as Exhibit A (with such changes as may be required under applicable law) of any employment-related claims, provided that this release must be signed within 30 days after the Executive’s separation from service and any payment that otherwise would be made within such 30-day period shall by paid at the expiration of such 30-day period, subject to Executive’s execution of such release; provided, however, that if Executive experiences a Qualifying Event within two years following a Change in Control, the Cash Severance Payment shall instead be an aggregate amount equal to two-and-a-half times t...

Separation Payments. In further consideration of your entering into and complying fully with this Agreement, and specifically conditioned upon your re-execution of this Agreement on the Employment Separation Date, the Company also agrees to provide you the following separation benefits: (a) The Company will pay you the total gross amount of $182,200 during the anticipated twelve-month period immediately following the Employment Separation Date (the "Separation Payments"), which is equivalent to twelve months of your current annual salary and monthly car allowance. The Separation Payments will be paid in equal periodic amounts on the regular pay dates of the Company, subject to all legally-required deductions. (b) After the Employment Separation Date, you will have the opportunity to extend your health plan benefits, pursuant to the Company's procedures to elect continued coverage through COBRA, and you will be solely responsible for timely election of coverage and payment of premium amounts pursuant to COBRA. During the twelve-month period beginning on the Employment Separation Date, the Company will reimburse you for your health plan benefit premiums, at the same benefit level which you had as of the Resignation Date (the "Health Plan Premiums"). (c) In response to reference requests received by the Company from prospective employers, the Company generally will confirm your dates of employment and last position held. If you wish to authorize the Company to release any additional information about your employment, then you agree to provide me with a specific written request to release such information in response to which the Company agrees to provide information about your actual written performance appraisals dated October 1, 2000, April 1, 2002; and May 1, 2004; provided, however, that you understand and agree that you may not accept outside employment prior to the Employment Separation Date absent advance written authorization from me. The Company does not require or expect you to seek other employment during the period in which you are receiving compensation under this Agreement, and your compensation under this Agreement will not be reduced by any compensation you may earn from other sources during the period you are receiving compensation under this Agreement. You agree that the Separation Payments and Health Plan Premiums shall be the sole amounts paid to you after the Employment Separation Date, and you must confirm at that time, by signing this Agreement again, that ...

Separation Payments. In consideration for Employee signing and not revoking this Release and complying with Employee’s obligations under the CIC Agreement and obligations hereunder, the Company will provide the severance payments to Employee as provided in the CIC Agreement.

Separation Payments. Ecotality will pay to Read (“Separation Payments”) an amount equal to $29,340.50 per month, subject to all applicable federal and state taxes and withholding, to be paid out on the Company’s regular pay cycle beginning on the first payroll cycle following the eighth day after the Separation Date (the “Acceptance Date”) and continuing until October 31, 2013, provided that Read has not revoked this Agreement before such Acceptance Date. If Read dies before all Separation Payments are made under this Section 3(a), all remaining Separation Payments will be made to Read’s estate in a lump-sum on the sixtieth (60th) day after Read’s death; provided that the Company may delay such payments until it is provided with proof of Read’s death but, in the case of amounts subject to Section 409A, only within the time periods necessary to avoid the imposition of taxes under Section 409A. Read acknowledges that these payments exceed what a departing employee at his level is entitled to, and that said payments are made in consideration for the promises and obligations contained herein. Read acknowledges and agrees that the first installment of the Separation Payment shall constitute adequate legal consideration for his promises in this Agreement, including the Release by Read in Section 6, and therefore if, during the period Read is receiving the Separation Payments, Read commits any act in contravention of Read’s covenants contained in the surviving provisions of the Employment Agreement, the Company shall not thereafter be obligated to pay any further Separation Payments (other than the first installment) to, or on behalf of, Read; provided that prior to any termination of Separation Payments the Company shall deliver a written notice to Read (the “Company Notice”) which identifies, in reasonable detail, the basis on which the Company believes it may terminate such Separation Payments and Read shall have a period of thirty (30) days from the date of the Company Notice to cure any alleged breach or respond in writing to the Company describing, in reasonable detail, the basis on which Read believes the Company does not have grounds to terminate Separation Payments (the “Employee Response”); provided further that if after the end of such thirty (30) day period Read has not cured the alleged breach or the Company determines, in good faith after taking into account the Employee Response, that the basis for termination described in the Company Notice remains valid, the Company ...

Separation Payments. (a) If Employee’s employment is terminated by the Company without Cause (as defined below) or by Employee for Good Reason (as defined below), provided that Employee signs and does not revoke a general release of claims against the Company within the time period specified therein, but in no event later than 60 days after the termination date, in form and substance satisfactory to the Company and Employee (the “Release”), then the Company will provide Employee with the following benefits, referred to herein as the “Separation Benefits”: (i) an amount of severance pay equal to Employee’s then-current Base Salary, paid less applicable taxes and withholdings over a period of 12 months following the date of termination (the “Separation Pay”); (ii) a pro-rated portion of the Annual Bonus for which Employee is eligible for the year of termination, based on actual performance for the year as determined by the Board based on the period between the first day of the fiscal year in which the Annual Bonus is in force and the actual day of termination, and payable when the Company would otherwise have paid the Annual Bonus; and (iii) provided that Employee properly and timely elects to continue his health insurance benefits under COBRA or applicable state continuation coverage law after the date of termination, reimbursement for Employee’s applicable health continuation coverage premiums actually paid, less the amount of any premium amount that would have been payable by Employee for such coverage, if any, if Employee had been actively employed by the Company, for a period of 12 months or until Employee becomes eligible for insurance benefits from another employer, whichever is earlier (the “COBRA Reimbursement”). The Separation Pay described in clause (i) above will be payable to Executive over time in accordance with the Company’s payroll practices and procedures beginning on the 60th day following the termination of Executive’s employment with the Company, provided that the first installment will include all amounts that would have been paid if such payments had commenced effective on the date of termination. The COBRA Reimbursement shall continue for the specified period provided that (A) the Company may terminate the COBRA Reimbursement if Employee becomes eligible to receive health benefits pursuant to a plan maintained by a subsequent employer during such period, and Employee will promptly notify the Company of his becoming eligible for such coverage, and (B) the ...

Separation Payments. Subject to Executive's execution of a Release and except to the extent provided under Section 5.07 and Section 5.09, Executive shall be entitled to the benefits set forth below (the "Separation Benefits") upon termination of employment under the following circumstances: (a) Upon a Nonqualifying Event, Executive shall be entitled to: (i) The Accrued Compensation;